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States within the US are an interesting example however. The timber lands of southern states (e.g. Alabama, Mississippi) are some of the most profitable in the
by willwashburn 6y ago
States within the US are an interesting example however. The timber lands of southern states (e.g. Alabama, Mississippi) are some of the most profitable in the world, yet you have some of the worst poverty. I'm also thinking of the coal fields of Appalachia. And off the top of my head, major oil and gas regions are also relatively poor (e.g. Texas panhandle, the Dakotas, the Louisiana petrochemical alley).
- NeuNeurosis 6y agoThis is called the Resource Trap. https://www.investopedia.com/terms/r/resource-curse.asp https://www.investopedia.com/terms/r/resource-curse.asp
- stainforth 6y agoI don't see any mention of how in reality its because the profits are cordoned off by a select few. Consider the Alaska Permanent fund - Appalachia and its industry could provide for its poor, but it doesn't.
- the-dude 6y agoBeing Dutch, I am surprised the article doesn't mention the Dutch disease. https://en.wikipedia.org/wiki/Dutch_disease https://en.wikipedia.org/wiki/Dutch_disease
- deleted 6y ago[deleted]